On-line since: About the company: Varchev Financial Services is a Bulgarian company which offers Forex trading as well as trading cryptocurrency, CFDs, indices, gold, silver, oil and gas, ETF, and binary options. Company. Security of funds The company is regulated by the Bulgarian Financial Supervisory Commission (FSC). Varchev Finance is able to provide its services in the European Union through the MiFID Directive. In addition, it is registered by the FCA (number 494 045), which allows the company to provide services on the territory of the United Kingdom of Great Britain. Varchev Finance is a member of the Bulgarian Investor Compensation Fund, which covers up to 90% of the total amount in the event of the company’s bankruptcy, but no more than 40,000 levs (about 20,000 euros). The FCA notes that the FSC can also return customers’ money if the company fails. Trading conditions In Varchev Finance, a single account type is available, and trading conditions differ depending on an instrument chosen by a trader. In addition, the broker offers a free demo account with virtual $10,000, so that customers can test trading with the company. The company’s work follows the NDD technology (No Dealing Desk), which reduces the risk of conflicts between the broker and traders. Minimum initial deposit Varchev Finance does not impose any requirements on the minimum deposit. Therefore, customers have the right to choose what amount they would like to start working with. In doing so, we have to remember that some online payment systems establish minimum amounts for transfers. Spreads and commissions Fixed spreads from 2 to 4 pips, which are slightly higher than the average for the industry, are available for forex trading. The company does not charge commissions and fees for trading on Forex. Leverage Varchev Finance gives quite a high level of leverage, up to 1:500. This is an advantageous offer for many traders. The leverage depends directly on the amount of the initial deposit. The higher the deposit is, the higher the leverage is. Trading platforms In Varchev Finance, a trader can choose one of three trading platforms: MetaTrader 4, MetaTrader5, and XStation XTB. The latter is named Varchev Absolute Trader (VAT). The applications of all platforms can be downloaded for the Android and Apple devices. The xStation platform was recognized as the Best Trading Platform 2016 by the Online Personal Wealth Awards. The platform offers instant execution of orders; technical, analytical, and graphic tools; social commerce; and a lot of other options. MetaTrader4 is the most popular platform, which is used by over 90% of traders. MetaTrader5 is its successor. Training Varchev Finance conducts free training for traders, offering educational articles and free webinars. But most of the information is available only in English. Customers can view the archive of past webinars on the site. Bonuses There are several bonus offers: "Account" is credited when a new account is opened. If a trader deposits over $3,000, he gets a bonus of $250; if a trader deposits more than $10,000, he gets $1,000. "CashBack" implies that the broker returns up to $500 from the loss of each customer on the first day of trading. According to "Friend", a trader receives $100 for each new client invited to the company. Support service Varchev Finance has offices in London, Varna, Burgas, and Sofia. The support service is available by phone, live chat, and a feedback form. The company has the following social media accounts: Facebook, Twitter, Google+, and Youtube where you can also follow the news. The site is translated into Russian, Bulgarian, English, and Turkish. Payment methods Varchev Brokers accepts customer deposits through bank transfers, credit and debit cards, as well as through online payment systems such as Neteller, Skrill, uKash, giropay, itau, Bulgarian online payment system, ePay, and PayPal. The company also accepts Bitcoin. The withdrawal of funds is carried out in the same way that the deposit has been made. Advantages:
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Varchev Finance provides many conveniences to their traders because that's what I feel. They provide cashback and various services on social media. When we deposit, at that time we can also get many bonuses at Varchev Finance. There are many benefits that they provide, one of which is they provide high leverage. I am sure their services will continue to improve.
Varchev Financial Services is totally scammer. I have deposited $1000 for my initial deposit. During volatility times, the broker is manipulating the prices on the platform and the clients' Stop Loss limit. Traded with them for 2 months and lost over $500 I called many times the support team regarding the issues of the quotes, but no one pay their attention to this problem.
My experience with this broker has been quite pleasant. My attitude to Varchev Financial is absolutely positive. They helped me a lot when I had trouble understanding MT4. They're compatible with Islamic rules, which makes them appropriate for everyone, Muslim or not. Orders are filled immediately. I highly recommend them.
Varchev Financial cannot be relied on in trading. I've lost $500 in just 2 days, they didn't explain anything to me regarding the real condition of my account. Most of the time service interruptions here and too much re-quotes, delays payments. I want to save my money by leave this broker. Please be careful while dealing with this broker as they had a very buggy trading platform. Beside that, they don't have special contest or program for new client and it makes me bored.
My trading experience is profitable on Varchev Financial's platforms. As here I get many trading advantages with their build-in analytical tools, indicators and EA. Also, their service is awesome, As I am comfortable dealing with them. As the spread is tight and execution almost instant. I can earn $250 and withdrawal this money through the Neteller account. Overall I say Varchev Financial is reliable!
The only reason I started trading with Varchev Financial is that they are not demanding when it comes to the initial deposit. I was able to open an account with only $25. However, their trading fees are too high. I had one trade where I did not earn anything because of the fee. This broker is definitely not good for scalpers.
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